The People Power Party criticized President Lee Jae-myung and his wife, Kim Hye-kyung, for setting a mortgage on their sale of an apartment in Bundang, calling it a "trick sale."
During a National Assembly meeting on July 21, Jung Jeom-sik, the party's floor leader, expressed his astonishment, stating, "I can't help but admire that such real estate transactions exist, and that there are tricks to evade loan regulations."
Previously, the president and his wife sold their jointly owned apartment in Seongnam, Gyeonggi Province, for 2.9 billion won while establishing a mortgage of 1.77 billion won. In response, the Blue House explained that this was due to the buyer's circumstances.
Jung further criticized the situation, saying, "It is contradictory for the president to impose heavy loan regulations on the public while teaching ways to circumvent them himself. The ruling party should consider changing its name from the Democratic Party to 'Democratic Mortgage.'"
He emphasized the need to ease abnormal loan regulations and shift the focus of real estate policy to increasing private supply, stating, "The beginning of change should be the immediate dismissal of Kim Yong-beom, the Blue House policy chief, who has turned the stock market into a gambling den and the real estate market into chaos."
Jung Hee-yong, the party's secretary-general, also criticized the president's actions, saying, "While claiming to control housing prices by locking down loan access, he has personally circumvented the regulations he created by borrowing large sums privately." He described this behavior as typical of the 'double standard' (where one’s own actions are seen as acceptable while others are judged harshly). He called for the repeal of excessive loan regulations and the establishment of real estate stabilization measures based on increased supply.
Kim Mi-ae, the party's deputy floor leader, condemned the president's method of selling the apartment, stating, "This is a sale that ordinary citizens would not even dare to consider." He added, "If the president ties the hands and feet of the public with loan regulations while using methods to evade them himself, who will trust the government's real estate policies? The public does not want to learn about tricks to evade regulations; they want a sensible country where they can buy and sell homes through normal means."
During a National Assembly meeting on July 21, Jung Jeom-sik, the party's floor leader, expressed his astonishment, stating, "I can't help but admire that such real estate transactions exist, and that there are tricks to evade loan regulations."
Previously, the president and his wife sold their jointly owned apartment in Seongnam, Gyeonggi Province, for 2.9 billion won while establishing a mortgage of 1.77 billion won. In response, the Blue House explained that this was due to the buyer's circumstances.
Jung further criticized the situation, saying, "It is contradictory for the president to impose heavy loan regulations on the public while teaching ways to circumvent them himself. The ruling party should consider changing its name from the Democratic Party to 'Democratic Mortgage.'"
He emphasized the need to ease abnormal loan regulations and shift the focus of real estate policy to increasing private supply, stating, "The beginning of change should be the immediate dismissal of Kim Yong-beom, the Blue House policy chief, who has turned the stock market into a gambling den and the real estate market into chaos."
Jung Hee-yong, the party's secretary-general, also criticized the president's actions, saying, "While claiming to control housing prices by locking down loan access, he has personally circumvented the regulations he created by borrowing large sums privately." He described this behavior as typical of the 'double standard' (where one’s own actions are seen as acceptable while others are judged harshly). He called for the repeal of excessive loan regulations and the establishment of real estate stabilization measures based on increased supply.
Kim Mi-ae, the party's deputy floor leader, condemned the president's method of selling the apartment, stating, "This is a sale that ordinary citizens would not even dare to consider." He added, "If the president ties the hands and feet of the public with loan regulations while using methods to evade them himself, who will trust the government's real estate policies? The public does not want to learn about tricks to evade regulations; they want a sensible country where they can buy and sell homes through normal means."
* This article has been translated by AI.
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